July 12, 2024 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas, reports on trading for Vicinity Motor Corp. (NASDAQ: VEV) (TSXV: VMC), a North American supplier of commercial electric vehicles.
Investors trading this EV stock are seeing big wins today. On the NASDAQ, Vicinity is trading at $0.6866, gaining 0.3486, up 103.1666% with a day's high of $0.9148 on volume of over 85 million shares on news.
Vicinity today announced that the VMC 1200 class 3 electric truck has received certification from the California Air Resources Board ("CARB") as a zero-emission vehicle for the 2024 Model Year.
CARB certification allows the sale of the VMC 1200 in California, as well as other states that have adopted CARB standards including Connecticut, Colorado, Delaware, Maine, Maryland, Massachusetts, Minnesota, Nevada, New Mexico, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Vermont, Virginia and Washington. With this certification, the VMC 1200 can now be sold in every U.S. state.
In addition, CARB certification allows Vicinity to participate in California's HVIP incentive program, as well as comparable programs in other states, which provide incentives to reduce the purchase cost of commercial electric vehicles.
Brent Phillips, President of Vicinity Motor Corp., said: "We are thrilled to announce the receipt of CARB certification for the VMC 1200, which now allows this incredibly compelling vehicle to be sold in every state throughout the country. In addition, the VMC 1200 now qualifies for various incentive programs - such as the HVIP program in California - which provide monetary vouchers to reduce the total cost for the purchaser.
"We can now begin to finalize U.S. dealer relationships and sell VMC 1200 vehicles throughout the entirety of the United States, leveraging our early mover advantage as many commercial EV competitors are still in the pre-production stage. I look forward to continued operational execution in the months ahead as we strive to deliver sustainable value for our shareholders over the long-term," concluded Philips.
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https://finance.yahoo.com/news/vicinity-motor-corp-announces-carb-123100215.html
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